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Realtor ’

I was in Panera Bread the other day for lunch and overheard a conversation from the neighboring table. One lady mentioned how she just listed her house for sale. Her friend eventually asked, “What made you go with that (real estate) company?” The lady said, “They do the most advertising in the newspaper.” Although not surprised, I did find this amusing.

Many people are still under the impression that newspaper and other forms of print advertising are effective or even necessary in the sale of a home. I can tell you with 100% certainty that print advertising is NOT necessary to sell a home.

A Good Example

One of my agents just sold this wonderful home at 5318 Avenida Del Mare on Siesta Key, Florida. We didn’t need to do any print advertising to get this home sold. This home sold for the following reasons:

We mobilized the Realtor community and made them aware of this home via the Multiple Listing Service (MLS).

We found the right asking price to get buyers interested.

The listing and selling Realtors worked diligently to get the transaction closed.

Our marketing plan was more thorough than what is listed above. However, at the end of the day the MLS, the right price and good Realtors are what got the job done.

Where Do Buyers Look For Homes?

Of course newspapers generate buyer calls and thus ultimately causes some properties to sell. However, it is probably not as much as you think.

The National Association of Realtors compiles data every year and issues a Profile of Home Buyers and Sellers. This report is recognized by most as the best compilation of data on today’s buyers and sellers because of the enormous amount of data available at NAR’s fingertips.

On Monday August 20, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:26)

Louis and Ryan discuss the direction of interest rates and the folly of trying to call the bottom. Louis and Ryan note that the stock market is not necessarily an indicator of the health of the state of the economy. Louis discusses why investors buy gold. Louis and discuss the reasons to buy a home.

Today’s real estate market can be trying for even the most eager of individuals. Many people might want to avoid the additional commissions, fees, and whatnot that are involved with realtors, yet having that ominous “for sale by owner” (FSBO) sign in their yards could lead to more problems than solutions. What makes a sale more difficult when owners attempt to do it themselves?

Tricky Sales When you list a property “for sale by owner,” there is a limited pool of potential buyers. In most cases, the property won’t be showing up on the multiple listing service (MLS). Also, many people think that FSBO sellers are not always the most motivated to sell their properties, and are just putting a sign up to see if they can garner a high asking price. Many times, unfortunately, you see FSBO homes sitting on the market for an unusually long time.

Also, those selling FSBO might not have the experience of an agent in negotiating the best deal. The closing paperwork, if you have never sold a property, can be very complex and confusing. An investor, for example, usually makes the sale as stress-free as possible by handling all the paperwork, closing quickly, buying “as is,” and not charging realtor commissions.

Realtors versus Investors There are many perks to listing with a realtor. It can be a good idea if the house is in good condition, you are patient, you don’t mind paying additional realtor commissions, and you are looking for a retail price. If the house needs work, however, you are looking to sell quickly, or you don’t want to pay a hefty realtor’s commission, contacting an investor might be a better option than choosing a realtor.

An investor is a great option to get your house sold if you need to sell quickly for whatever reason (including probate, inheritance, divorce, bankruptcy, or relocation, just to name a few). Usually, when investors buy houses, they can buy them in as few as seven days, in as-is condition, and without any realtor commissions. It’s up to you to decide which of these options best serves your ultimate purpose in terms of selling your house.

Home sellers are more than twice as likely to sell their homes using a REALTOR® than going FSBO. Seventy-three percent of homeowners using a HomeGain agent had their homes sold vs. 62 percent who used a non-HomeGain agent and vs. 30 percent who went FSBO.

HomeGain surveyed over 400 homeowners asking whether they used a REALTOR® to sell their home or whether they attempted to sell it themselves. Seventy-nine percent said they used a REALTOR® to sell their home and 21 percent said they tried to sell their home on their own.

Sixty-six percent of home owners that used a REALTOR® to sell their home were successful vs. 30 percent of FSBO’s, reflecting a 120 percent higher closing rate for those home sellers using a REALTOR®.

Eighty-five percent of homeowners that used a REALTOR® to try and sell their home said they would use a REALTOR® again for their real estate needs.

Eighty-nine percent of home owners who sold their home using a REALTOR® said they would use a REALTOR® again.

Have you been trying to sell your home with no success? Are the number of showings dwindling? Is your listing becoming stale among the Realtor community? You may need a reality check.

Most sellers will blame the lack of a successful sale on their Realtor. “They did not do enough open houses.” “I never saw any advertising.” “Their brochure was no good.” “The photos were blurry.” While any or all of this may be true most of the time the real reason the home did not sell was because of the unrealistic asking price. A nice home properly priced on the MLS system stands a very good chance of selling even if there are no open houses, blurry photos, bad brochures or little advertising. Realtors and buyers can eventually sniff out a good buy.

Certainly, there are times when bad marketing can affect a sale or the sale price. There is no doubt about it. Don’t hire a Realtor that does a poor job of marketing. There are too many great agents out there who do a fantastic job and they generally do not cost you any more money. If they do cost more money it is usually negligible and worth it.

HomeGain’s 2011 For Sale By Owner (FSBO) vs. REALTOR® survey reveals home sellers’ success rates and satisfaction. Home sellers have greater success and higher satisfaction with the home sale process using a REALTOR® than going FSBO.

HomeGain surveyed over 1,000 homeowners asking whether they used a REALTOR® to sell their home or whether they attempted to sell it themselves. Eighty-three percent said they used a REALTOR® to sell their home and 17 percent said they tried to sell their home on their own.

Fifty-nine percent of home owners that used a REALTOR® to sell their home were successful vs. 39 percent of FSBO’s, reflecting a 50 percent higher closing rate for those home sellers using a REALTOR®.

Eighty-one percent of homeowners that used a REALTOR® to try and sell their homes said they would use a REALTOR® again for their real estate needs.

Eighty-eight percent of home owners who sold their homes using a REALTOR® said they would use a REALTOR® again. Continue reading this post

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